Evaluation of the Quality of the Entrepreneurial Environment on the Basis of Fuzzy Logic

Simona Hašková

Littera Scripta, 2016, vol. 9, issue 3

Abstract: Investor’s risk involves both economic and non-economic factors, which are evaluated by ratings agencies. Within this context, estimates are calculated of the percentage value of the quality of the entrepreneurial environment †p“ for selected countries in Europe and Asia. They are based on the modified values of the indices of the partial components of the quality of the entrepreneurial environment (levels of corruption, economic and political stability). The partial components of the rating evaluation are processed by means of fuzzy logic, which enables the description of vague and uncertain input data and sociological-psychological factors that occur during managerial tasks. Fuzzy logic is based on the fundamentals of classic propositional logic, whereby the truth-value of each A statement is generalized as|A| ∈ <0,1> and is interpreted as the extent or degree of its truthfulness. Compared to the statistical approach, fuzzy logic is discussed and evaluated in terms of particular managerial tasks.

Keywords: fuzzy logic; entrepreneurial risk; ratings agency; sociologicalpsychological factors (search for similar items in EconPapers)
Date: 2016
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